The dollar is expected to continue gaining strength due to higher Treasury yields and a cautious approach to U.S. rate cuts.

There is speculation about potential intervention in the yen, as the Bank of Japan's monetary policy is being closely watched.

Bank of Japan Governor Kazuo Ueda will be speaking about monetary policy for the first time since the U.S. presidential election.

Market expectations indicate a 55% chance of a quarter-point rate hike to 0.5% during the BOJ's meeting on December 19, driven by concerns about the yen's weakness.

Traders are anticipating a cautious tone from at least seven Federal Reserve officials who are scheduled to speak this week, which will further impact the market.